For debtors looking at mounting bills and a clear path out of debt, Chapter 13 bankruptcy might be just the thing to put your financial problems in your rearview mirror. Under Chapter 13, individuals with regular incomes are given the time and protections to help reorganize their debts, and unlike Chapter 7 bankruptcy protection, you do not run the risk of losing your assets if you comply with all the bankruptcy court’s orders. In many ways, Chapter 12 help is like getting a consolidation loan where you pay the Chapter 13 trustee before they pass the money on to your creditors.
What You need to Know about Chapter 13 Bankruptcy
Chapter 13 protection is an excellent way to reorganize your debts. Gaining protection under the bankruptcy codes is a process rather than an event, so be prepared to furnish a great deal of information to satisfy the bankruptcy trustee. Just some of the important information you will need includes:
- A list of all creditors and the amount of money you owe
- Detailed accounting of your income including amount and frequency
- A list of all your property and assets
- A detailed list of monthly living expenses
If you have the wherewithal to repay your debts, but just need some extra breathing room to reorganize what you owe your creditors, call Americor Financial to get your questions answered.
Find Out More About How to Receive Chapter 13 Bankruptcy Help
When your financial situation has reached the point where you think you might need legal protections, you need to reach out to the caring experts on staff at Americor Financial. Contact us today to see what your best options are regarding your financial future, and what role Chapter 13 bankruptcy help can play in that future. We will find the debt relief strategy that works for you, so do not delay contacting us to reclaim your life.